What Can Blockchain Really Do For The Food Industry?

Blockchain - A ground-breaking technology, after the application in cryptocurrency and bitcoins, is now started refining every industry. The list of industries that are boosted-up by the adaptation of Blockchain Technology involves Health Care, Supply Chain, Insurance, Education and so on.

Here we are going to explore the exertion of Blockchain Technology in "Food and Agriculture Supply Chain ".

Issues in the Food Supply Chain

1. Lack of Traceability

2. The high cost of Supply Chain

3. Fraudulence in Food

4. Illegal Production

5. Inability to maintain Quality and Safety

Blockchain in Food Supply Chain

Now, let us deeply look into how this blockchain technology would be implemented in the food supply chain.

1. Storing the information on food crops by farmers

2. Adding food processing details using food processors

3. Bidding for processed products by Wholesalers

4. Safety of Food can be traced by End-consumers

Benefits of Blockchain in Food Supply Chain

1. Easy to Trace

2. Safety of Food Products

3. Quick and Safe Transactions

4. Efficiency

5. Reduced Cost

Real-Time Application of Blockchain in Food Industry

There are some food-related industries that adopted blockchain technology for their process of manufacturing of food items. Some of the notable investors of blockchain in food supply chain involve:

1. ChainTrade

2. Farm2Kitchen

3. Owlchain

4. IBM Food Trust

5. Avenues-GT and more.

Explore here more about the Real-Time Application of Blockchain in Food Industry !